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Consolidated Statements Of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Loans receivable, including fees $ 24,121,000 $ 20,702,000 $ 47,802,000 $ 39,860,000
Securities 2,584,000 2,481,000 5,109,000 4,986,000
Other 966,000 53,000 1,697,000 101,000
Total interest income 27,671,000 23,236,000 54,608,000 44,947,000
INTEREST EXPENSE        
Deposits 10,687,000 5,740,000 20,796,000 10,102,000
Short-term borrowings 356,000 797,000 692,000 1,576,000
Other borrowings 1,703,000 1,057,000 3,485,000 1,534,000
Total interest expense 12,746,000 7,594,000 24,973,000 13,212,000
NET INTEREST INCOME 14,925,000 15,642,000 29,635,000 31,735,000
PROVISION FOR (RELEASE OF) CREDIT LOSS EXPENSE 347,000 (1,750,000) (276,000) (1,450,000)
NET INTEREST INCOME AFTER PROVISION FOR (RELEASE OF) CREDIT LOSSES 14,578,000 17,392,000 29,911,000 33,185,000
OTHER INCOME        
Other income 1,880,000 1,726,000 3,592,000 3,402,000
Net realized gains on sales of securities   (212,000)   (209,000)
Gains on sales of loans, net 36,000 10,000 42,000 10,000
Earnings and proceeds on bank owned life insurance 253,000 229,000 520,000 442,000
Other 189,000 174,000 341,000 346,000
Total other income 2,207,000 1,783,000 4,213,000 3,695,000
OTHER EXPENSES        
Salaries and employee benefits 5,954,000 5,842,000 12,090,000 11,810,000
Occupancy, furniture & equipment, net 1,229,000 1,314,000 2,489,000 2,576,000
Data processing and related operations 1,024,000 822,000 2,046,000 1,590,000
Taxes, other than income 179,000 162,000 272,000 323,000
Professional fees 508,000 323,000 1,092,000 608,000
Federal Deposit Insurance Corporation insurance 309,000 244,000 670,000 445,000
Foreclosed real estate 15,000 74,000 36,000 103,000
Amortization of intangibles 19,000 23,000 38,000 46,000
Other 2,207,000 2,134,000 4,442,000 3,873,000
Total other expenses 11,444,000 10,938,000 23,175,000 21,374,000
INCOME BEFORE INCOME TAXES 5,341,000 8,237,000 10,949,000 15,506,000
INCOME TAX EXPENSE 1,128,000 1,734,000 2,303,000 3,221,000
Net income $ 4,213,000 $ 6,503,000 $ 8,646,000 $ 12,285,000
BASIC EARNINGS PER SHARE $ 0.52 $ 0.81 $ 1.07 $ 1.52
DILUTED EARNINGS PER SHARE $ 0.52 $ 0.81 $ 1.07 $ 1.51
Service Charges And Fees [Member]        
OTHER INCOME        
Other income $ 1,504,000 $ 1,353,000 $ 2,847,000 $ 2,665,000
Income From Fiduciary Activities [Member]        
OTHER INCOME        
Other income $ 225,000 $ 229,000 $ 463,000 $ 441,000